A slowdown in the global Scrap market has pushed Alang Scrap prices downward by INR 1,000/MT in one week. Melting Scrap in Alang, India’s largest ship-breaking yard, is being offered at INR 21,100/MT (USD 343/MT) and 6-8 mm ship breaking Plates are offered at INR 24,000/MT (USD 390/MT).
Scrap prices in the global market has moved down by USD 30-40/MT in last few weeks owing to cheaper offers of Billet and Rebar from China and CIS region. Current offers for HMS 1&2 assessed at USD 270-280/MT and Shredded at USD 280-290/MT, CIF India in containers.
Speaking to a trader based in Alang, Steelmint assessed that declining Billet & Rebar prices in Indian market has pushed down Scrap prices as well. Traders believe that local prices are highly influenced by the global market and there is further scope of correction.
Bulk Ship Prices down by USD 10-15/LDT
Bulk ship breaking prices in the global market also felt pressure owing to cheap imports from China. Prices are noticed to come down by USD 10-15/ldt in last two weeks. Current prices for dry ship assessed at USD 360/ldt and box ship at USD 380/ldt, CIF Alang, India.
Alang is one of the largest ship breaking yard in the world and also a major source of Scrap for steel units in India. At an average, monthly 30 to 35 ships dock at Alang for breaking, which has now come down to 17 to 18 since the past few months.
Indian HMS 1&2 Scrap Prices as on 07 Feb’15
| Particular | Prices | W-o-W | M-o-M |
| HMS(80:20), Alang | INR 21,100/MT | – 1,000 | – 1,500 |
| 4 Ane, (6-8 mm) Alang | INR 24,000/MT | – 900 | – 1,300 |
| 6 Ane, (9-11 mm) Alang | INR 24,600/MT | – 1,000 | – 1,300 |
| 8 Ane, (12-14 mm) Alang | INR 25,200/MT | – 1,000 | – 1,100 |
| 10 Ane, (15-18 mm) Alang | INR 25,600/MT | – 1,000 | – 1,000 |
| HMS(80:20), ex- Mumbai | INR 21,550/MT | – 150 | – 700 |
| HMS(80:20), ex- Chennai | INR 21,150/MT | 0 | – 150 |
| HMS(80:20), CIF India | USD 280/MT | – 24 | – 32 |
| HMS(80:20), CIF Turkey | USD 282/MT | – 3 | – 38 |
Source: SteelMint Research
Leave a Reply